Private rental sector 'fills housing gap'
Property professionals
1st February 2010
There would be a "very serious housing problem" if it were not for the private rental sector in the UK, according to an expert.
A National Approved Letting Scheme (NALS) explained that "it is very arduous for young people starting off", the cost of owning a property is rising and the right to buy scheme has reduced the level of local authority housing available.
He described the private rental sector as the "white knight" of housing in the UK for years, adding: "Without the private rental sector we would be in desperate straits."
The spokesman's comments followed research from the British Property Federation that indicated Britain's landlords play an essential role in filling the country's housing gap, something that may interest those seeking a UK insurance policy.
With funding for social housing drying up, the study predicted that pension funds and institutional investors would have a role to play in the future of the sector and councils should also encourage more buy-to-let investment in order to meet shortages.
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